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by taxing depositors, they actually have the ability to also tax nonresidents, as we saw in your clip just now. there's a lot of british there but there are even more russian depositors so in that sense you actually end up having the ability to bring in tax revenue from non-cyprusians. that's a big advantage for the government of cyprus because this is money that otherwise they would have had to raise by cutting pensions or other types of austerity measures. >> woodruff: the russians and others stand to be hurt pretty badly by this. >> basically that's part of the strategy or the intent of both the euro area, the i.m.f. and the cyprusian government. >> woodruff: but the signal that sends, i mean, what's the message it sends to the rest of europe? i mean, how worried should they be that what's going on in cyprus and we don't know how this is going to play out because the banks are closed for the next few days. how worried should the rest of the banks in europe be? >> i don't think there's an immediate risk of sort of contagious bank run in other european countries in spain or italy. be
by taxing depositors, they actually have the ability to also tax nonresidents, as we saw in your clip just now. there's a lot of british there but there are even more russian depositors so in that sense you actually end up having the ability to bring in tax revenue from non-cyprusians. that's a big advantage for the government of cyprus because this is money that otherwise they would have had to raise by cutting pensions or other types of austerity measures. >> woodruff: the russians and...
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Mar 13, 2013
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he would eliminate most deductions and lower tax rates. white house spokesman jay carney said ryan asks nothing from the wealthy to help cut the deficit. >> there is no way to do that in a revenue-neutral way without raising taxes substantially on middle class families. we look at the ryan budget as a perfect example of why balance is so necessary because this is what... this is the alternative to balance. it results in unfair tax hikes on middle class americans and it results in undue burden on middle class americans through the cuts envisioned. >> reporter: democrats in the senate are unexpected to unveil their budget for the fiscal year tomorrow. unlike the house republicans plan the measure is expected to include a mix of spending cuts and tax increases. the senate page ontario leader harry reid offered a preview this morning. >> the democrat plan will cut wasteful spending and close tax loopholes that benefit the rich and invest what the economy needs to go really hard, to continue to build, to grow. it will increase a strong middle c
he would eliminate most deductions and lower tax rates. white house spokesman jay carney said ryan asks nothing from the wealthy to help cut the deficit. >> there is no way to do that in a revenue-neutral way without raising taxes substantially on middle class families. we look at the ryan budget as a perfect example of why balance is so necessary because this is what... this is the alternative to balance. it results in unfair tax hikes on middle class americans and it results in undue...
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Mar 20, 2013
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worldwide the parliament in cyprus rejects a plan to tax its bank depositors. the euro falls to its lowest level since november. >>> ben bernanke and the fed get down to business. what should we expect after its two-day meeting ends tomorrow? we'll ask former federal reserve governor randy crosser in. >> and what does the ceo of one of the world's iconic brands think of the economy and the american consumer? susie sits down with the top man at coca-cola. all that and more coming up right now on "nbr." good evening and welcome to our public television viewers. susie, once again, little cyprus making big economic noise today. >> you're right, tyler. actually a big win for citizens in cyprus. lawmakers rejected today an unpopular and unprecedented proposal to tax bank deposits. it was part of a larger eurozone bailout plan to rescue those banks and keep the nation solvent. the crucial vote came after a wave of protests, and as cypr t cypriots scrambled to withdraw cash from their atms. bertha coombs joins us with more on today's historic vote and what's ahead for
worldwide the parliament in cyprus rejects a plan to tax its bank depositors. the euro falls to its lowest level since november. >>> ben bernanke and the fed get down to business. what should we expect after its two-day meeting ends tomorrow? we'll ask former federal reserve governor randy crosser in. >> and what does the ceo of one of the world's iconic brands think of the economy and the american consumer? susie sits down with the top man at coca-cola. all that and more coming...
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Mar 21, 2013
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they call for higher taxes to fund government programs. house speaker john boehner remained skeptical. >> the budget that senate democrats are considering never balances, ever. that means more debt, fewer jobs and, frankly, much higher taxes from the american people. >> sreenivasan: the negotiations over these competing party visions for governing will begin in earnest when president obama submits his spending blueprint on april 8. with their work done, house members leave town today for a two week recess. while senators will remain in a marathon session until a vote on their own plan to fund the government. judy woodruff takes it from there. >> woodruff: for what's happening behind-the-scenes, we turn to todd zwillich, washington correspondent for "the takeaway" on public radio international. welcome back to the newshour. >> good to be with you, judy. >> woodruff: first this vote to keep the government funded by the end of the fiscal year, both the house and senate passed this. does this mean democrats and republicans finally see eye to e
they call for higher taxes to fund government programs. house speaker john boehner remained skeptical. >> the budget that senate democrats are considering never balances, ever. that means more debt, fewer jobs and, frankly, much higher taxes from the american people. >> sreenivasan: the negotiations over these competing party visions for governing will begin in earnest when president obama submits his spending blueprint on april 8. with their work done, house members leave town...
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half through tax revenues and half from spending cuts. but senate republican leader mitch mcconnell said he has low expectations. >> call me a skeptic but there's little chance the budget my senate democratic friends put forward will balance today, ten years from today or ever. i doubt it will contain much in the way of spending reform either. >> reporter: amid the back-and-forth, president obama began a series of four trips to capitol hill this week starting today with a meeting with senate democrats. he came and went without comment, but he'll be back tomorrow to meet with house republicans on thursday he confers with senate republica and house democrats. >> brown: we explore further the politics and the policies of the competing budget plans with nancy cook, the economic and fiscal policy correspondent for the "national journal." so, still again, two very different visions, right? you referred to it in your report as world views. start with the republicans. what did we hear today? >> sure. a lot of what we heard from the republicans is
half through tax revenues and half from spending cuts. but senate republican leader mitch mcconnell said he has low expectations. >> call me a skeptic but there's little chance the budget my senate democratic friends put forward will balance today, ten years from today or ever. i doubt it will contain much in the way of spending reform either. >> reporter: amid the back-and-forth, president obama began a series of four trips to capitol hill this week starting today with a meeting...
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but taxing people's bank accounts proved unpopular, even when the provision was added to shield small savers. banks across cyprus will remain closed until thursday to avoid a run on cash. uncertainty about the cyprus situation set markets around the world and on wall street on edge. the dow jones industrial average gained more than three points to close above 14,455. the nasdaq fell eight points to close at 3229. seven u.s. marines were killed after a mortar unexpectedly exploded during a training exercise in western nevada. military officials said that prompted the pentagon to halt the use of the mortar worldwide until an investigation can be completed. the accident happened last night at the hawthorne army depot. the marines who were killed were based at camp lejeune in north carolina. seven other marines and sailors were injured in the explosion. a proposed ban on assault weapons will not be part of a gun controlill slated for debate next month. california senator diane feinstein said it will instead be offered as an amendment. but that amendment is unlikely to survive because of s
but taxing people's bank accounts proved unpopular, even when the provision was added to shield small savers. banks across cyprus will remain closed until thursday to avoid a run on cash. uncertainty about the cyprus situation set markets around the world and on wall street on edge. the dow jones industrial average gained more than three points to close above 14,455. the nasdaq fell eight points to close at 3229. seven u.s. marines were killed after a mortar unexpectedly exploded during a...
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we're not going to do tax reform or grand bargain but some small deals going and make the government a little less dysfunctional so it's less impinging on the economy. you keep hearing the economy is ready to take off. if we can get the government out of the way for a couple years we can get some really nice growth and that will change things up and i think they are sceeding in denuclearizing our conflicts. no fiscal cliffs, no debt defaults. let the economy grow for a change. >> woodruff: what are you hearing. >> the government has to get out of the way, i love that. that's a great one after what we've been through in this country with absolutely no control. and we just learned again this week that the bank's too big to fail, too big to be reprimanded, controlled by the federal government. but i'd say this, judy. there's an old line in politics you dance with the girl who -- barack obama didn't do that. for the past seven years he's gone into hundreds if not thousands of rooms, people with large egos, people with great accomplishments, people who are great skeptical toward him and h
we're not going to do tax reform or grand bargain but some small deals going and make the government a little less dysfunctional so it's less impinging on the economy. you keep hearing the economy is ready to take off. if we can get the government out of the way for a couple years we can get some really nice growth and that will change things up and i think they are sceeding in denuclearizing our conflicts. no fiscal cliffs, no debt defaults. let the economy grow for a change. >>...
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also snubbed was virginia governor bob mcdonnell, who is raising taxes to pay for a transportation plan in his state. all of which leaves conservatives facing a key question: how to unify behind a central message that moves the republican party forward? veteran republican pollster whit ayres says it will take more than tinkering. >> it is delusional to think that we had the right message and we just haven't communicated it effectively. you don't lose five of the last six presidential elections in the popular vote if you have got the right message. so we need new message, new messengers and a new tone. >> reporter: francesca chambers is editor of the conservative blog "red alert politics." she says the effort must involve more outreach to young people and minorities, but she acknowledges that will take time. >> that is not necessarily going to happen in three months time. i think that it's unfair to say, "oh, the election was in november and we don't see big changes, sweeping changes happening yet." i think that everyone needs some time to make these things happen and we have got four ye
also snubbed was virginia governor bob mcdonnell, who is raising taxes to pay for a transportation plan in his state. all of which leaves conservatives facing a key question: how to unify behind a central message that moves the republican party forward? veteran republican pollster whit ayres says it will take more than tinkering. >> it is delusional to think that we had the right message and we just haven't communicated it effectively. you don't lose five of the last six presidential...
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yesterday, the cypriot parliament rejected a bill to tax bank deposits. today, lawmakers crafted a plan "b." we have a report from jonathan rugman of "independent television news." >> reporter: why would the finance minister of a sun-kissedile be braving moscow's weather? because he's desperate for money. he came begging for around $5 billion euros and doesn't intend to leave without it. >> there were no offers, nothing concrete. we are continuing discussion. we are happy with a good beginning and looking forward to continuing this discussion over the next few hours. >> and while the cypriots have flown to russia, the russians have flown to cyprus. in a country where cash points still work, even if the banks behind them don't. these banks are not set to reopen until next tuesday. any dash for cash, and they could collapse. >> cyprus is facing on the economic side a question of survival. >> reporter: even the orthodox church has joined the scramble for a solution. the island's archbishop today told the president he would put the church's vast property port
yesterday, the cypriot parliament rejected a bill to tax bank deposits. today, lawmakers crafted a plan "b." we have a report from jonathan rugman of "independent television news." >> reporter: why would the finance minister of a sun-kissedile be braving moscow's weather? because he's desperate for money. he came begging for around $5 billion euros and doesn't intend to leave without it. >> there were no offers, nothing concrete. we are continuing discussion. we...
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most republicans are balking at any additional tax hikes to cut the deficit. many democrats are opposed to substantial cuts in entitlement spending. the democratic led senate judiciary committee approved a new ban on assault-style weapons today. the bill would outlaw the sale of 157 kinds of semi-automatic weapons and limit ammunition clip sizes to 10 bullets. it passed on a party-line vote of ten to eight, with all republicans opposed. but it faces long odds in the full senate. the head of the transportation security administration is defending a proposal to allow small knives on passenger planes. the idea has provoked a backlash by pilots, flight attendants and others. but john pistole told a house hearing today that the concerns are misplaced. he said an attacker could use any number of things already on planes. >> a metal knife or fork, whether it's a wine glass or wine bottle that they break and use, there's any number of things that could be used as a deadly instrument. it really gets again to what is the intent of the person on board as opposed to the o
most republicans are balking at any additional tax hikes to cut the deficit. many democrats are opposed to substantial cuts in entitlement spending. the democratic led senate judiciary committee approved a new ban on assault-style weapons today. the bill would outlaw the sale of 157 kinds of semi-automatic weapons and limit ammunition clip sizes to 10 bullets. it passed on a party-line vote of ten to eight, with all republicans opposed. but it faces long odds in the full senate. the head of the...